Citigroup CFO says 2-3 years before better returns: report

NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) Chief Financial Officer Gary Crittenden said it could be two to three years before returns at the largest U.S. bank by assets improve significantly, The New York Times said on Tuesday.

"This isn't like a sprint," Crittenden said, according to the newspaper. "This really is a marathon."

Citigroup did not immediately return a call seeking comment.

Analysts on average expect Citigroup on Friday to post a second-quarter loss of 60 cents per share, according to Reuters Estimates.

Such a loss would equal more than $3 billion, and be on top of close to $15 billion of losses in the prior two quarters.

Chief Executive Vikram Pandit is trying to improve operations. Since mid-2007, the bank has suffered more than $46 billion of write-downs and credit losses.

These losses have been tied to such matters as subprime mortgages, complex debt, consumer credit and exposure to bond insurers. Citigroup has also raised more than $40 billion of capital over that time.

(Reporting by Jonathan Stempel; Editing by Maureen Bavdek)